We have audited the accompanying Financial Statements of HASTI FINANCE LIMITED (“the
Company”), which comprise the Balance Sheet as at March 31, 2025, the Statement of Profit and Loss
(including Other Comprehensive Income), the Cash Flow Statement and the Statement of Changes in
Equity for the year then ended, and a summary of material accounting policies and other explanatory
information (herein referred to as “the standalone financial statements”)

In our opinion and to the best of our information and according to the explanations given to us, except
for the possible effects of the matter described in the Basis for Qualified Opinion paragraph and
Emphasis of matters Paragraph below, the aforesaid standalone financial statements give the
information required by the Companies Act, 2013 (“the Act”) in the manner so required and give a
true and fair view in conformity with the Indian Accounting Standards prescribed under section 133
of the Act read with the Companies (Indian Accounting Standards) Rules, 2015, as amended, (“Ind
AS”) and other accounting principles generally accepted in India, of the state of affairs of the Company
as at March 31, 2025, and its Losses, total comprehensive income, its cash flows and changes in equity
for the year ended on that date.

Basis for Qualified Opinion

The Company has not recognized provisions for long-term employee benefits, such as gratuity and
leave encashment, nor has it carried out an actuarial valuation as required under Ind AS 19 -
Employee Benefits. The Company accounts for such benefits on a cash basis. In our view, this is not in
compliance with the requirements of Ind AS 19, which requires recognition and measurement of such
obligations using actuarial valuation, irrespective of the size of the workforce or actual payout. The
impact of this departure on the financial statements has not been quantified by the management.

We conducted our audit of Standalone Financial Statements in accordance with the Standards on
Auditing (SAs) specified under section 143(10) of the Companies Act, 2013. Our responsibilities
under those SAs are further described in the Auditor’s responsibilities for the audit of the Standalone
Financial Statements section of our report. We are independent of the Company in accordance with
the code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical
requirements that are relevant to our audit of the Standalone Financial Statements under the

provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities
in accordance with these requirements and the code of Ethics. We believe that the audit evidence we
have obtained is sufficient and appropriate to provide a basis for our Qualified audit opinion on the
standalone financial statements.

Emphasis of Matter

We draw attention to the following matters referred in note 26 of Notes to standalone financial
statements:

a) The company had received a bank attachment order from the Income Tax Department on
30.01.2020 in respect of Income Tax demands which is subject to rectification. As per the
explanation given to us, the management is in the process of rectifying/ payment of the said
demand.

b) Non-compliance of following statutory requirements:

a. The company has not appointed Internal Auditor as required under section 138 of the
Companies act, 2013 read with Rule 13 of Companies (Accounts) Rules, 2014.

b. The company have not created Website and uploaded the required documents as
specified in SEBI (LODR) Regulation 46.

c. The company has not published its notices/advertisements in newspapers as required
by SEBI (LODR) Regulation 47.

d. We draw attention to Note Number 31 of the financial statements, which states that the
Chief Financial Officer (CFO) of the Company did not attend the meeting of the Board of
Directors at which the financial statements for the year ended 31st March, 2025 were
approved. Consequently, the financial statements have been signed by two Directors in
accordance with the provisions of Section 134 of the Companies Act, 2013.

As per the explanation given to us, the management is in process of regularization of these non¬
compliances and the penalties/late fees or any other outflow cannot be measured with sufficient
reliability, no provision/contingencies are recorded in financial statements.

Our opinion is not modified in respect of these above matters.

Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most significance in
our audit of the standalone financial statements of the current period. These matters were addressed
in the context of our audit of the standalone financial statements, and in forming our opinion thereon,
and we do not provide a separate opinion on these matters. We have determined the matters
described below to be the key audit matters to be communicated in our report:

Information Other than the Standalone Financial Statements and Auditor's Report Thereon

The Company's Board of Directors is responsible for the other information. The other information
comprises the information in the Management Discussion and Analysis, Board’s Report including
Annexure to the Board’s Report and Corporate Governance but does not include the standalone
financial statements and our auditor’s report thereon.

Our opinion on the Standalone Financial Statements does not cover the other information and we do
not express any form of assurance conclusion thereon.

In connection with our audit of the Standalone Financial Statements, our responsibility is to read the
other information and, in doing so, consider whether the other information is materially inconsistent
with the Standalone Financial Statements or our knowledge obtained in the audit or otherwise
appears to be materially misstated.

If, based on the work we have performed, we conclude that there is a material misstatement of this
other information; we are required to report that fact. We have nothing to report in this regard.

Responsibilities of Management and Those Charged with Governance for the Standalone
Financial Statements

The Company’s Board of Directors is responsible for the matters stated in section 134(5) of the Act
with respect to the preparation of these standalone financial statements that give a true and fair view
of the financial position, financial performance including other comprehensive income, cash flows
and changes in equity of the Company in accordance with the accounting principles generally
accepted in India, including the Indian Accounting Standards (Ind AS) specified under section 133 of
the Act read with the Companies (Indian Accounting Standards) Rules, 2015, as amended. This
responsibility also includes maintenance of adequate accounting records in accordance with the
provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting
frauds and other irregularities; selection and application of appropriate accounting policies; making
judgements and estimates that are reasonable and prudent; and the design, implementation and
maintenance of adequate internal financial controls, that were operating effectively for ensuring the
accuracy and completeness of the accounting records, relevant to the preparation and presentation
of the standalone financial statements that give a true and fair view and are free from material
misstatement, whether due to fraud or error.

In preparing the standalone financial statements, management is responsible for assessing the
Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going
concern and using the going concern basis of accounting unless management either intends to
liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors are also responsible for overseeing the Company’s financial reporting process.

Auditors' Responsibilities for the Audit of the Standalone Financial Statements:

Our objectives are to obtain reasonable assurance about whether the Standalone Financial
Statements are free from material misstatement, whether due to fraud or error, and to issue an
auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is
not a guarantee that an audit conducted in accordance with SAs will always detect a material
misstatement when it exists.

Misstatements can arise from fraud or error and are considered material if, individually or in the
aggregate, they could reasonably be expected to influence the economic decisions of users taken on
the basis of these Standalone Financial Statements.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain
professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the Standalone Financial Statements,
whether due to fraud or error, design and perform audit procedures responsive to those
risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our
opinion. The risk of not detecting a material misstatement resulting from fraud is higher than
for one resulting from error, as fraud may involve collusion, forgery, intentional omissions,
misrepresentations, or the override of internal control.

• Obtain an understanding of internal financial control relevant to the audit in order to design
audit procedures that are appropriate in the circumstances. Under section 143(3)(i) of the
Act, we are also responsible for expressing our opinion on whether the Company has
adequate internal financial controls system in place and the operating effectiveness of such
controls.

• Evaluate the appropriateness of accounting policies used and the reasonableness of
accounting estimates and related disclosures made by the management.

• Conclude on the appropriateness of management’s use of the going concern basis of
accounting and, based on the audit evidence obtained, whether a material uncertainty exists
related to events or conditions that may cast significant doubt on the Company’s ability to
continue as a going concern. If we conclude that a material uncertainty exists, we are required
to draw attention in our auditor’s report to the related disclosures in the Standalone Financial
Statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are

based on the audit evidence obtained up to the date of our auditor’s report. However, future
events or conditions may cause the Company to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the Standalone Financial
Statements, including the disclosures, and whether the Standalone Financial Statements
represent the underlying transactions and events in a manner that achieves fair presentation.

Materiality is the magnitude of misstatements in the Standalone Financial Statements that,
individually or in aggregate, makes it probable that the economic decisions of a reasonably
knowledgeable user of the Standalone Financial Statements may be influenced. We consider
quantitative materiality and qualitative factors in

(i) planning the scope of our audit work and in evaluating the results of our work; and

(ii) to evaluate the effect of any identified misstatements in the Standalone Financial
Statements.

We communicate with those charged with governance regarding, among other matters, the planned
scope and timing of the audit and significant audit findings, including any significant deficiencies in
internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with
relevant ethical requirements regarding independence, and to communicate with them all
relationships and other matters that may reasonably be thought to bear on our independence, and
where applicable, related safeguards.

From the matters communicated with those charged with governance, we determine those matters
that were of most significance in the audit of the Standalone Financial Statements of the current
period and are therefore the key audit matters. We describe these matters in our auditor’s report
unless law or regulation precludes public disclosure about the matter or when, in extremely rare
circumstances, we determine that a matter should not be communicated in our report because the
adverse consequences of doing so would reasonably be expected to outweigh the public interest
benefits of such communication.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor’s Report) Order, 2020 (“the Order”), issued by the
Central Government of India in terms of sub-section (11) of section 143 of the Companies Act,
2013, we give in the “Annexure A” a statement on the matters specified in paragraphs 3 and
4 of the Order, to the extent applicable.

2. (A) As required by Section 143(3) of the Act, we report that:

a) Except for the matter described in the Qualified Opinion and Emphasis of Matters
paragraph of our report, we have sought and obtained all the information and
explanations, which to the best of our knowledge and belief were necessary for the
purposes of our audit;

b) Except for the matter described in the Qualified Opinion and Emphasis of Matters
paragraph of our report, in our opinion, proper books of account as required by law have
been kept by the Company so far as it appears from our examination of those books;

c) The Balance Sheet, the Statement of Profit and Loss including the Statement of Other
Comprehensive Income, the Cash Flow Statement and Statement of Changes in Equity
dealt with by this Report are in agreement with the books of account;

d) Except for the matter described in the Qualified Opinion and Emphasis of Matters
paragraph of our report, in our opinion, the aforesaid Standalone Financial Statements
comply with the Accounting Standards specified under Section 133 of the Act.;

e) On the basis of the written representations received from the directors as on March 31,
2025, taken on record by the Board of Directors, none of the directors is disqualified as
on March 31, 2025 from being appointed as a director in terms of Section 164 (2) of the
Act.

f) With respect to the adequacy of the internal financial controls over financial reporting of
the Company and the operating effectiveness of such controls, refer to our separate
Report in “Annexure B”.

g) With respect to the other matters to be included in the Auditor’s Report in accordance
with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to
the best of our information and according to the explanations given to us:

i. The Company does not have any pending litigations which would impact its
financial position except as disclosed in notes to financial statements;

ii. The Company did not have any long-term contracts including derivative contracts,
for which there were any material foreseeable losses;

iii. There were no amounts which were required to be transferred to the Investor
Education and Protection Fund by the company during the year ended March 31,
2025.

iv. (a) The Management has represented that, to the best of its knowledge and belief,
no funds (which are material either individually or in the aggregate) have been
advanced or loaned or invested (either from borrowed funds or share premium or
any other sources or kind of funds) by the Company to or in any other person or
entity, including foreign entity (''Intermediaries"), with the understanding,
whether recorded in writing or otherwise, that the Intermediary shall, whether,
directly or indirectly lend or invest in other persons or entities identified in any
manner whatsoever by or on behalf of the Company ("Ultimate Beneficiaries") or
provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries;

(b) The Management has represented that, to the best of its knowledge and belief
no funds (which are material either individually or in the aggregate) have been
received by the Company from any person or entity, including foreign entity
("Funding Parties''), with the understanding, whether recorded in writing or
otherwise, that the Company shall, whether, directly or indirectly, lend or invest
in other persons or entities identified in my manner whatsoever by or on behalf of

the Funding Party ("Ultimate Beneficiaries") or provide any guarantee, security
or the like on behalf of the Ultimate Beneficiaries;

(c)Based on the audit procedures that have been considered reasonable and
appropriate in the circumstances, nothing has come to our notice that has caused
us to believe that the representations under sub-clause (i) and (ii) of Rule 11(e), as
provided under (a) and (b) above, contain any material misstatement.

v. The company has not declared or paid any dividend during the year ended March
31, 2025.

vi. Based on our examination, which included test checks, the Company has used
accounting softwares for maintaining its books of accounts for the financial year
ended 31st March, 2025 which has feature of recording audit trail (edit log) facility
and the same has operated throughout the year for all relevant transactions
recorded in the softwares. Further, during the course of our audit we did not come
across any instance of the audit trail feature being tampered with.

The audit trail records have been preserved by the Company in accordance with
the statutory record retention requirements

3. In our opinion and according to the information and explanations given to us, the

remuneration paid by the Company to its directors during the current year is in accordance
with the provisions of Section 197 of the Act. The remuneration paid to any director is not
in excess of the limit laid down under Section 197 of the Act.

For Vandana V. Dodhia & Co.

Chartered Accountants

Firm Regd. No. 117812W

Sd/-

CA Vandana V. Dodhia

Partner

Membership No. 104000

Place: Mumbai

Date: 30-05-2025

UDIN: 25104000BMLCXC6498